Indian court recognizes cryptocurrency as property, prohibits WazirX from redistributing XRP tokens

The Madras High Court ruled that cryptocurrencies are classified as property, impacting how exchanges handle customer assets.

WazirX, India’s largest crypto exchange, is prohibited from redistributing 3,532 XRP tokens to mitigate losses from a previous hack.

Users have only received 30% of their funds due to ongoing account lock issues and delays in the verification process.